Retirement Entrepreneurs Blog

Comments, rants and tips on baby boomer small business ideas
and working after retirement.

Author: Ingvar - Retiree In Training  

Working after retirement

Being a realtor sound sooo good. Especially if you like homes and people. Imagine, show people who really want to buy a new home selected properties and if they buy - you make thousands. Or help them sell their homes at a good price. Well, I am here to discourage you from even thinking about it.

There are some challenges. And I sort of know, I have been very close to a realtor for almost four years. As in many businesses, it's the 80/20 rule. 20% of agents make 80% of the money. And for people starting out - it's brutal. Unless you find yourself in the right place at the right time, with slews of people you know willing and able to do a real estate deal with you - you will be working for pennies per hour.

These days people buy on the Internet. I have seen realtors work with buyers for a long time, just to find out that they found a perfect home on MLS and just called the listing agent. It sucks. No loyalty. With some exceptions, of course.

Here in Vancouver, a few years ago real estate agents were order takers. That drove the prices up, and money was made. These days - not so.

Anyway, personally I would never endure the constant attacks from naive, disloyal buyers. It's a struggle. And while I am at it I'll share something many people are finding unfair. In the old days when houses were affordable, say under $100,000 realtor commissions were a reasonable 3-4% on the average. Some as high as 6%. That hasn't changed, it's still the same commissions, but house prices have multiplied 4-5 times - meaning the commissions have also multiplied right along with the prices. So yeah, I am not too keen on the real estate business. But that's just me.

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